Bismuth Market Research Report: Information by Derivatives (Bismuth Nitrate, Bismuth Oxide, Bismuth Oxychloride, Bismuth Subnitrate, Bismuth Sub Carbonate, and Bismuth Aluminate), End-Use Industry (Pharmaceutical, Cosmetics and Pigments, Electronics, Automotive, and Others), and Region (Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa)—Forecast till 2030
ID: MRFR/CnM/1835-HCR | 135 Pages | Published By Anshula Mandaokar on March 2023
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Bismuth Market Overview
The Bismuth Market Forecast shows it will experience -5% CAGR during the forecast period and will have lucrative growth.
Bismuth is a heavy metal and resembles lead in many characteristics. It is found naturally and is known for being one of the diamagnetic materials. It is found in different industries and the form of bismite or bismutite minerals. It is used in many cosmetics and other commercial applications and used in the automotive and electrical industries. Most pharmaceutical industries use this as a product of medicines. The derivatives of bismuth are also used in pharmaceutical industries for the treatment of gastric ulcers, treat burns and diarrhea.
Covid-19 Analysis
Covid 19 have a severe effect on different industry. It changes the way of life and the process and situation of the business worldwide. Pandemic made the industry face downturn and many losses by the industry owners. Due to the virus spread, the government ordered regions and industries to pause, and a shutdown and quarantine order was also given, negatively impacting the market. Many industries use bismuth to process other items, but in the pandemic, the manufacturing and production sectors were paused to work, which impacted the bismuth market. Due to that, the availability of raw materials also declined, and the experts were also not available due to the surrounding situation. But with the announcement of vaccines, the world is recovering, and with that, the industries are also getting pace. It is expected that the Bismuth Market Share will improve during the forecast period.
Chief Factors Existing In The Market
Key DriversThe rising application of bismuth in the automotive industry to protect rust coatings, brake lining, etc., is expected to boost the market. The demand for bismuth is improving, which furls the market growth in the forecast period. Increasing production of tungsten as bismuth is also extracted from it and is obtained as the by-product after the lead processing, accelerating the market growth. The demand for cosmetics is rising day by day, which leads to the high demand for the bismuth as this is extensively used for the products, so the product provides an iridescent appearance. It is mostly used in powered products and talc, and the high population of women uses the cosmetic products, which increases the Bismuth Market Value. Recently, social media has been getting a lot of hype. The industries are investing in social media influencers as the beauty standards are increasing, which improves the people to opt for cosmetics and makeup products, adding valuable growth to the market. The main noticeable reason is the humungous following of the beauty and makeup influencers in social media.Market ChallengesThe use of bismuth can create many hampers to the human body. It can impact the external and internal sides of the body. The consumption of this can affect the organ system and lead to damage. Also, using bismuth products can affect the skin and can create skin reactions, black lines, anemia and other issues. All those side effects and issues are challenges of the market, and the market needs to overcome them to gain growth in the forecast period.Market OpportunitiesIncreasing the use of bismuth in the battery system is expected to create many opportunities for the market. Bismuth use is increasing as a thermoelectrical material across cooling and power generation systems is expected to provide many growth opportunities for the bismuth market. The growing use of bismuth in many refrigerator systems and the power generation process is creating ample growth for the market, and the market will experience high growth in the forecast period. The use of bismuth is high in many commodities around the globe and add to it, the use of bismuth in makeup products is forming lucrative growth for the market.Market RestraintsThe limit in the usage of the bismuth as there are many cost-effective alternatives are holding the market such as magnesia, antibiotics etc. bismuth is available in a very less number worldwide, hindering the production and manufacturing of the products. Due to the low availability, the process of the metal is very high, which affects the market growth. The pharmaceutical industry has restrictions in the usage of the bismuth, which also limits the market's growth during the forecast period. The government is taking strict action regarding the usage of the bismuth for environmental concerns, which leads to the shutdown of the smelting of bismuth for many reasons. Additionally, bismuth consumption can lead to organ damage in humans, and the large doses can also hamper the market growth.
Cumulative Evaluation Of The Market
The cumulative report shows a comprehensive study of the Bismuth market and its segments. A holistic evaluation of the market is shown in the report. The lucrative segments for the market growth are drivers, restraints, opportunities, and other factors that play an important role in the market. The bismuth market analysis shows the market will register growth in the forecast period. Covid 19 impact was severe for the market as the market showdown of manufacturing and production industries impacted the market.
Market segmentation
The derivatives and end-user industry segment the Bismuth Market. Both the segments have a coherent effect on the market.
By derivativesBased on the derivatives segment, the market is classified into Bismuth Nitrate, Bismuth Oxide, Bismuth Oxychloride, Bismuth Subnitrate, Bismuth Sub Carbonate, and Bismuth Aluminate. among all the segments, bismuth oxide is dominating the market. It is expected to hold the industry's largest market share in the forecast period.By end-user industryThe end-user industry contains variables such as pharmaceuticals, Cosmetics and Pigments, Electronics, Automotive, and Others. Pharmaceuticals hold the largest market share among the end-user segment due to the extensive use of bismuth in the sector for making several drugs. Both the segment have a speedy effect on the Bismuth Market Size.
Regional analysis
The bismuth market is studied in five major regions. The regions are as pacific, Europe, North America, the middle east and Africa and other regions. The Asia Pacific is projected to hold the largest market share and is expected to continue dominating the market in the forecast period due to e to the increasing demand for bismuth in the pharmaceutical, electronics and rising transportation sector in the region Bismuth Market Growth. In addition to it, the sudden shift to bismuth rather than lead-based free machine steel in prominent areas and the region is experiencing growth in the cosmetic industry that propels the market in the region. Rapid urbanization and continuous industrialization are also growth factors for the market. The growth of the pharmaceutical and cosmetic industry in North America and Europe increases the market growth. And they contribute in a massive number to the market. The market will experience high growth in the forecast period. All the other regions will push the market forward.
Competitive Intensity Within The Industry
The bismuth market is experiencing many notable developments due to the players taking several innovative growth strategies. Significantly, the market is competitive and fragmented. The prominent market players are largely involved in consolidating the market position. For the improvement of the situation, many strategies are opted by market players to improve the market value globally. Many growth measures are taken into account for the organic growth of the market. Many product development strategies and merges are developed in the market. The key players of different regions who are increasing the acquisition of the market are
- 5N PlusCanada
- Omkar Speciality Chemicals Ltd. India
- Merck KGaA Germany
- Hunan Jinwang Bismuth Industry Co., Ltd Hong Kong
- Peñoles Mexico
- Nui Phao Mining Joint Venture Co.Ltd Vietnam
- Fortune Minerals Ltd Canada
- , Xianyang Jump Hua Bismuth Industry Co., LTD China
- , Zhuzhou Keneng New Material Co., Ltd.China
- Western Minmetals (SC) Corporation China
- SHENZHEN MACHINERY CO., LTD China
Recent development
May 2021- Massachusetts Institute of Technology (MIT), the National University of Taiwan (NTU), and Taiwan Semiconductor Manufacturing Company (TSMC) have cooperatively disclosed that a substantial innovation was created in the development of 1-nanometer (nm) chips.The research results discovered that utilizing semi-metal bismuth (Bi) as the contact electrode of the two-dimensional (2D) material can highly lessen the resistance and boost the current. It helps achieve energy efficiency close to the present physical limits of semiconductor sizes.April 2021- Shepherd Color revealed the inauguration of its latest Virtual Showroom with the introduction of its latest Bismuth Vanadate (BV) Yellow, product code 30C133.Bismuth Vanadate, also called C.I. Pigment Yellow 184, is broadly utilized in high-performance yellow color matches and has broad governing approvals and presence in chemical registries across the globe.Yellow 30C133 is basically completely inorganic and doesn’t possess any organic dispersion aids or resins added, which might concede the performance of systems including Yellow 30C133.Common uses for Yellow 30C133 include high-performance coatings such as powder, architectural, industrial, automotive, coil & extrusion spray, and other coatings. It can also be used in engineering polymers and plastics, particularly thin films and fibers.
Report Overview
The bismuth market report provides quantitative and qualitative information about the industry and gives a proper insight into the market. The report includes essential information regarding the market, such as market dynamics, current scenario, the impact of a pandemic, new development during the forecast period. The market's competitive landscape shows several key players investing in the market to make the market visible on the global stage. The past years and future of the Bismuth Market Trends are also depicted in the report. It is expected that the market will form new opportunities and values, which will drive the market in the forecast due to the growth.
Key industrial segments
By derivatives
- Bismuth Nitrate,
- Bismuth Oxide
- Bismuth Oxychloride
- Bismuth Subnitrate
- Bismuth Sub Carbonate
- Bismuth Aluminate
By end-user industry
- Pharmaceutical
- Cosmetics and Pigments
- Electronics
- Automotive
- Others
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030: Significant Value |
| CAGR | 5% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Types, end-use industry, and region |
| Geographies Covered | North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. |
| Key Vendors | 5N Plus(Canada), Omkar Speciality Chemicals Ltd. (India), Merck KGaA (Germany),Hunan Jinwang Bismuth Industry Co., Ltd (Hong Kong), Peñoles (Mexico), Nui Phao Mining Joint Venture Co.Ltd (Vietnam), Fortune Minerals Ltd (Canada), Xianyang Jump Hua Bismuth Industry Co., LTD (China), Zhuzhou Keneng New Material Co., Ltd.(China), Western Minmetals (SC) Corporation (China) and SHENZHEN CHINARY CO., LTD (China). |
| Key Market Opportunities | The increasing spending on cosmetic products and the growing personal care industry is expected to propel the demand |
| Key Market Drivers | Increased demand in end-use industries |
Frequently Asked Questions (FAQ) :
The global bismuth market is expected to exhibit a stable 5% CAGR over the forecast period from 2022-2030.
Bismuth is primarily used in pharmaceuticals and cosmetics as part of treatments for gastric ulcers, burns, and diarrhea, as well as a part of cosmetics such as nail polish and lipsticks.
The growing cosmetics industry is likely to be the major driver for the global bismuth market.
Asia Pacific is likely to dominate the global bismuth market over the forecast period, also exhibiting the highest CAGR.
Leading players in the bismuth market include 5N Plus, Omkar Specialty Chemicals Ltd., Merck, Penoles, Fortune Minerals Ltd., Zhuzhou Keneng New Material Co. Ltd., and Western Minmetals (SC) Corporation.
